Friday, July 8, 2011

Foreign Exchange Reserves of Pakistan 2011 surge to record high

Pakistan’s forex reserves have incresed to a record high of $18.25 bn, a SBP official told on Thursday.

The reserves went at peak last week, from the previously reported $17.95 bn in March, the State Bank of Pakistan (SBP) revealed.

They rose due to increase in remittances from overseas Pakistanis and exports also contributed to some extent, he added.

In January US gave more than $633 m to the Pakistan to help in the fight against Taliban and Al-Qaeda extremists, which also helped a lot to increase foreign exchange reserves.

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